Private companies added 201,000 new jobs last month, much better than the 143,000 jobs economists expected.
The economy needs to add about 150,000 jobs per month to keep pace with the growing population. Anything above that lowers the unemployment rate. Construction was once again one of the key elements of the job picture with 10,000 new jobs, its biggest gain since March. If people can afford new houses and new businesses, there's nothing in the economy that they can't afford.
Which essentially means that the U.S. economy is back. But in another excellent sign, a report by firm Challenger, Gray, & Christmas showed that planned job cuts in the U.S. hit a 20-month low.
The economy needs to add about 150,000 jobs per month to keep pace with the growing population. Anything above that lowers the unemployment rate. Construction was once again one of the key elements of the job picture with 10,000 new jobs, its biggest gain since March. If people can afford new houses and new businesses, there's nothing in the economy that they can't afford.
Which essentially means that the U.S. economy is back. But in another excellent sign, a report by firm Challenger, Gray, & Christmas showed that planned job cuts in the U.S. hit a 20-month low.
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